Sporttrade, which boasts being the first and only dynamic sports trading marketplace in the country, officially launched its sports betting exchange in New Jersey Sept. 15.
Founded in 2018, Sporttrade allows customers to trade in and out positions on sports outcomes as they would trade stocks, options or crypto currencies. The platform uses capital markets technology and infrastructure to allow users to make profit or trim losses based on probability changes in an event at any time.
“We are thrilled to be live in the State of New Jersey with the first sports trading platform,” said Alex Kane, founder and CEO of Sporttrade. “New Jersey was the first state to launch legalized sports betting in 2018 and we are proud to be the first operator to launch a unique and differentiated product designed for sports betting and trading enthusiasts seeking a better customer experience.”
Sporttrade customers can trade frictionlessly both before and during games, and the company also offers unique order types like limit orders, which allow customers to buy or sell outcomes at customized prices.
Initially, Sporttrade will offer trading on win/loss outcomes, spread and over/unders for NFL, MLB, NBA, NHL, WNBA, golf and college football and basketball.
“We set out to create a better and more modern sports betting platform tapping into American’ passion for trading,” Kane added. “What we’ve launched is the only differentiated sports betting platform in the U.S., but we believe we are defining a whole new category of sports wagering – trading sports.”